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70-610: Reuben Feffer, a risk-averse actuary for a large life insurance company, is celebrating his honeymoon with his new wife, Lisa Kramer, on the island of St. Barts , but catches her having sex with Claude, a French scuba instructor. Lisa claims to be in love with Claude and chooses to stay in St. Barts with him. Reuben returns home to New York alone and attempts to piece his life back together. While at an art gallery with his friend, Sandy Lyle, he runs into former middle school classmate Polly Prince. Reuben asks Polly out and she invites him to dinner at

140-463: A London draper named John Graunt showed that there were predictable patterns of longevity and death in a defined group, or cohort , of people, despite the uncertainty about the future longevity or mortality of any one individual. This study became the basis for the original life table . Combining this idea with that of compound interest and annuity valuation, it became possible to set up an insurance scheme to provide life insurance or pensions for

210-851: A Moroccan restaurant, which he agrees to despite having irritable bowel syndrome . The date ends badly when Reuben clogs Polly's toilet, but she gives him a second chance, and the two go salsa dancing together. Polly dances provocatively with her friend Javier, and Reuben admits to being uncomfortable, explaining that he actually hates spicy food and generally avoids "risky" behaviors that she clearly enjoys. Despite this, Polly takes him home and they have sex. Polly and Reuben continue to see each other regularly, and Reuben finds himself challenged by Polly to experience new things as well as by Leland Van Lew, an adventurous CEO who wants Reuben's company to insure him so that he can maintain control of his company. Reuben also asks Javier to teach him to dance salsa, which allows him to surprise and charm Polly when they return to

280-435: A code of ethics that covers their communications and work products. As an outgrowth of their more traditional roles, actuaries also work in the fields of risk management and enterprise risk management for both financial and non-financial corporations. Actuaries in traditional roles study and use the tools and data previously in the domain of finance. The Basel II accord for financial institutions (2004), and its analogue,

350-431: A company's prospects. In economics, as in finance, risk is often defined as quantifiable uncertainty about gains and losses. Environmental risk arises from environmental hazards or environmental issues . In the environmental context, risk is defined as "The chance of harmful effects to human health or to ecological systems". Environmental risk assessment aims to assess the effects of stressors, often chemicals, on

420-521: A financial liability will be worth at different points in the future. Since neither of these kinds of analysis are purely deterministic processes, stochastic models are often used to determine frequency and severity distributions and the parameters of these distributions. Forecasting interest yields and currency movements also plays a role in determining future costs, especially on the life side. Actuaries do not always attempt to predict aggregate future events. Often, their work may relate to determining

490-422: A group of people, and to calculate with some degree of accuracy each member's necessary contributions to a common fund, assuming a fixed rate of interest. The first person to correctly calculate these values was Edmond Halley . In his work, Halley demonstrated a method of using his life table to calculate the premium someone of a given age should pay to purchase a life-annuity. James Dodson 's pioneering work on

560-645: A guideline for setting the pass mark for any examination. If the CAS determines that 70% of all candidates have demonstrated sufficient grasp of the syllabus material, then those 70% should pass. Similarly, if the CAS determines that only 30% of all candidates have demonstrated sufficient grasp of the syllabus material, then only those 30% should pass." Actuaries have appeared in works of fiction including literature, theater, television, and film. At times, they have been portrayed as "math-obsessed, socially disconnected individuals with shockingly bad comb-overs", which has resulted in

630-405: A highly quantified way. The technique is usually referred to as probabilistic risk assessment (PRA). See WASH-1400 for an example of this approach. The incidence rate can also be reduced due to the provision of better occupational health and safety programmes. Security is freedom from, or resilience against, potential harm caused by others. A security risk is "any event that could result in

700-400: A large organization or simply crossing the road. Intuitive risk management is addressed under the psychology of risk below. Risk management refers to a systematic approach to managing risks, and sometimes to the profession that does this. A general definition is that risk management consists of "coordinated activities to direct and control an organization with regard to risk". ISO 31000 ,

770-470: A mixed response amongst actuaries themselves. Risk In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. One international standard definition of risk

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840-431: A pool of risks including market risk, credit risk, operational risk, interest rate risk, mortality risk, longevity risks, etc. The term "risk" has a long history in insurance and has acquired several specialised definitions, including "the subject-matter of an insurance contract", "an insured peril" as well as the more common "possibility of an event occurring which causes injury or loss". Occupational health and safety

910-622: A simple summary, defining risk as "the possibility of something bad happening". The International Organization for Standardization (ISO) 31073 provides basic vocabulary to develop common understanding on risk management concepts and terms across different applications. ISO 31073 defines risk as: effect of uncertainty on objectives Note 1: An effect is a deviation from the expected. It can be positive, negative or both, and can address, create or result in opportunities and threats . Note 2: Objectives can have different aspects and categories, and can be applied at different levels. Note 3: Risk

980-528: A university setting. In others, such as the US, most study takes place during employment through a series of examinations. In the UK, and countries based on its process, there is a hybrid university-exam structure. As these qualifying exams are extremely rigorous, support is usually available to people progressing through the exams. Often, employers provide paid on-the-job study time and paid attendance at seminars designed for

1050-521: A variety of hazards that may result in accidents causing harm to people, property and the environment. In the safety field, risk is typically defined as the "likelihood and severity of hazardous events". Safety risks are controlled using techniques of risk management. A high reliability organisation (HRO) involves complex operations in environments where catastrophic accidents could occur. Examples include aircraft carriers, air traffic control, aerospace and nuclear power stations. Some HROs manage risk in

1120-494: Is a questionnaire screening tool, used to provide individuals with an evaluation of their health risks and quality of life. Health, safety, and environment (HSE) are separate practice areas; however, they are often linked. The reason is typically to do with organizational management structures; however, there are strong links among these disciplines. One of the strongest links is that a single risk event may have impacts in all three areas, albeit over differing timescales. For example,

1190-416: Is an individual or collaborative undertaking planned to achieve a specific aim. Project risk is defined as, "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives". Project risk management aims to increase the likelihood and impact of positive events and decrease the likelihood and impact of negative events in the project. Safety is concerned with

1260-471: Is concerned with occupational hazards experienced in the workplace. The Occupational Health and Safety Assessment Series (OHSAS) standard OHSAS 18001 in 1999 defined risk as the "combination of the likelihood and consequence(s) of a specified hazardous event occurring". In 2018 this was replaced by ISO 45001 "Occupational health and safety management systems", which use the ISO Guide 73 definition. A project

1330-443: Is leaving New York in a few hours and at the same time is urgently called into work to give his risk analysis presentation on Van Lew. After a speech given by his father, Irving, to Sandy about not living in the past, Reuben realizes he wants to be with Polly and not Lisa, and he rushes to her apartment to stop her from leaving. Meanwhile, Sandy fills in for Reuben for his risk analysis presentation on Leland and successfully convinces

1400-432: Is narrowly focused on computer security, information risks extend to other forms of information (paper, microfilm). Insurance is a risk treatment option which involves risk sharing. It can be considered as a form of contingent capital and is akin to purchasing an option in which the buyer pays a small premium to be protected from a potential large loss. Insurance risk is often taken by insurance companies, who then bear

1470-405: Is record of a 14th-century contract to insure a shipment of wheat. In 1350, Lenardo Cattaneo assumed "all risks from act of God, or of man, and from perils of the sea" that may occur to a shipment of wheat from Sicily to Tunis up to a maximum of 300 florins . For this he was paid a premium of 18%. During the 17th century, a more scientific basis for risk management was being developed. In 1662,

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1540-603: Is the "effect of uncertainty on objectives". The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas ( business , economics , environment , finance , information technology , health , insurance , safety , security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000 , provides principles and general guidelines on managing risks faced by organizations . The Oxford English Dictionary (OED) cites

1610-454: Is the convergence of modern finance theory with actuarial science. In the early 20th century, some economists and actuaries were developing techniques that can be found in modern financial theory, but for various historical reasons, these developments did not achieve much recognition. In the late 1980s and early 1990s, there was a distinct effort for actuaries to combine financial theory and stochastic methods into their established models. In

1680-434: Is the least risky choice for Reuben. Van Lew brings Reuben and Polly along on a sailing trip. As the two take shelter below deck during a storm, Polly discovers the risk assessment and argues with Reuben. She rejects his proposal to move in together, telling him that he would be better off going back to Lisa. Back home, Reuben is despondent over losing Polly and invites Lisa to Sandy's opening show, where he learns that Polly

1750-472: Is the use of computers to store, retrieve, transmit, and manipulate data. IT risk (or cyber risk) arises from the potential that a threat may exploit a vulnerability to breach security and cause harm. IT risk management applies risk management methods to IT to manage IT risks. Computer security is the protection of IT systems by managing IT risks. Information security is the practice of protecting information by mitigating information risks. While IT risk

1820-436: Is usually expressed in terms of risk sources, potential events, their consequences and their likelihood. This definition was developed by an international committee representing over 30 countries and is based on the input of several thousand subject-matter experts. It was first adopted in 2002 for use in standards. Its complexity reflects the difficulty of satisfying fields that use the term risk, in different ways. Some restrict

1890-453: The Roman empire , associations were formed to meet the expenses of burial, cremation, and monuments—precursors to burial insurance and friendly societies . A small sum was paid into a communal fund on a weekly basis, and upon the death of a member, the fund would cover the expenses of rites and burial. These societies sometimes sold shares in the building of columbāria , or burial vaults, owned by

1960-1002: The Solvency II accord for insurance companies (in force since 2016), require institutions to account for operational risk separately, and in addition to, credit , reserve , asset , and insolvency risk. Actuarial skills are well suited to this environment because of their training in analyzing various forms of risk, and judging the potential for upside gain, as well as downside loss associated with these forms of risk. Actuaries are also involved in investment advice and asset management , and can be general business managers and chief financial officers . They analyze business prospects with their financial skills in valuing or discounting risky future cash flows, and apply their pricing expertise from insurance to other lines of business. For example, insurance securitization requires both actuarial and finance skills. Actuaries also act as expert witnesses by applying their analysis in court trials to estimate

2030-499: The level premium system led to the formation of the Society for Equitable Assurances on Lives and Survivorship (now commonly known as Equitable Life ) in London in 1762. This was the first life insurance company to use premium rates that were calculated scientifically for long-term life policies, using Dodson's work. After Dodson's death in 1757, Edward Rowe Mores took over the leadership of

2100-478: The variance (or standard deviation) of asset prices. More recent risk measures include value at risk . Because investors are generally risk averse , investments with greater inherent risk must promise higher expected returns. Financial risk management uses financial instruments to manage exposure to risk. It includes the use of a hedge to offset risks by adopting a position in an opposing market or investment. In financial audit , audit risk refers to

2170-413: The 1930s and 1940s, rigorous mathematical foundations for stochastic processes were developed. Actuaries began to forecast losses using models of random events instead of deterministic methods . Computers further revolutionized the actuarial profession. From pencil-and-paper to punchcards to microcomputers, the modeling and forecasting ability of the actuary has grown vastly. Another modern development

Along Came Polly - Misplaced Pages Continue

2240-503: The 21st century, the profession, both in practice and in the educational syllabi of many actuarial organizations, combines tables, loss models, stochastic methods, and financial theory, but is still not completely aligned with modern financial economics . As there are relatively few actuaries in the world compared to other professions, actuaries are in high demand, and are highly paid for the services they render. The actuarial profession has been consistently ranked for decades as one of

2310-524: The United States, the profession was rated as the best profession by CareerCast, which uses five key criteria to rank jobs—environment, income, employment outlook, physical demands, and stress, in 2010, 2013, and 2015. In other years, it remained in the top 20. Becoming a fully credentialed actuary requires passing a rigorous series of professional examinations, usually taking several years. In some countries, such as Denmark, most study takes place in

2380-533: The actuarial profession has been reluctant to specify the pass marks for its examinations. To address concerns that there are pre-existing pass/fail quotas, a former chairman of the Board of Examiners of the Institute and Faculty of Actuaries stated: "Although students find it hard to believe, the Board of Examiners does not have fail quotas to achieve. Accordingly, pass rates are free to vary (and do). They are determined by

2450-589: The board to insure him. Reuben catches up with Polly and tries to persuade her to stay. She still isn't sure they're compatible, so he eats food off the ground to prove he is capable of taking risks. Polly is finally convinced and ends up dating Reuben, but they both agree they will take their relationship step-by-step and not rush into marriage. A year later, Reuben and Polly vacation on the same beach in St. Bart's. He has loosened up more, while Polly has become more comfortable with commitment. They encounter Claude, but instead of being angry, he thanks him for setting off

2520-411: The casualty side, this analysis often involves quantifying the probability of a loss event, called the frequency, and the size of that loss event, called the severity. The amount of time that occurs before the loss event is important, as the insurer will not have to pay anything until after the event has occurred. On the life side, the analysis often involves quantifying how much a potential sum of money or

2590-711: The common methods of management, the measurements of risk and even the definition of risk differ in different practice areas. This section provides links to more detailed articles on these areas. Business risks arise from uncertainty about the profit of a commercial business due to unwanted events such as changes in tastes, changing preferences of consumers, strikes, increased competition, changes in government policy, obsolescence etc. Business risks are controlled using techniques of risk management . In many cases they may be managed by intuitive steps to prevent or mitigate risks, by following regulations or standards of good practice, or by insurance . Enterprise risk management includes

2660-452: The compromise of organizational assets i.e. the unauthorized use, loss, damage, disclosure or modification of organizational assets for the profit, personal interest or political interests of individuals, groups or other entities." Security risk management involves protection of assets from harm caused by deliberate acts. Risk is ubiquitous in all areas of life and we all manage these risks, consciously or intuitively, whether we are managing

2730-476: The concept of insurance dates to antiquity, the concepts needed to scientifically measure and mitigate risks have their origins in the 17th century studies of probability and annuities. Actuaries of the 21st century require analytical skills, business knowledge, and an understanding of human behavior and information systems to design programs that manage risk, by determining if the implementation of strategies proposed for mitigating potential risks, does not exceed

2800-432: The context of public health , risk assessment is the process of characterizing the nature and likelihood of a harmful effect to individuals or populations from certain human activities. Health risk assessment can be mostly qualitative or can include statistical estimates of probabilities for specific populations. A health risk assessment (also referred to as a health risk appraisal and health & well-being assessment)

2870-414: The cost of financial liabilities that have already occurred, called retrospective reinsurance , or the development or re-pricing of new products. Actuaries also design and maintain products and systems. They are involved in financial reporting of companies' assets and liabilities. They must communicate complex concepts to clients who may not share their language or depth of knowledge. Actuaries work under

Along Came Polly - Misplaced Pages Continue

2940-420: The country's box office for the next two weekends. The film was a financial success, making $ 178 million at the box office worldwide off a $ 42 million budget. On review aggregator Rotten Tomatoes , the film holds a score of 27% based on 163 reviews, with an average rating of 4.8/10. The site's critics consensus reads, "Though the supporting actors are funny, Stiller and Aniston don't make a believable couple, and

3010-614: The course of events that led him here before heading nude into the water with Polly to join Leland on his new boat. Along Came Polly opened at #1 at the box office in the United States, earning US$ 27,721,185 in its opening weekend, ending the month-long reign of The Lord of the Rings: The Return of the King . The film was released in the United Kingdom on February 27, 2004, and topped

3080-532: The earliest use of the word in English (in the spelling of risque from its French original, 'risque') as of 1621, and the spelling as risk from 1655. While including several other definitions, the OED 3rd edition defines risk as: (Exposure to) the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility. The Cambridge Advanced Learner's Dictionary gives

3150-448: The economic value of losses such as lost profits or lost wages. The basic requirements of communal interests gave rise to risk sharing since the dawn of civilization. For example, people who lived their entire lives in a camp had the risk of fire, which would leave their band or family without shelter. After barter came into existence, more complex risks emerged and new forms of risk manifested. Merchants embarking on trade journeys bore

3220-440: The event of the borrower's death or infirmity. Alternatively, people sometimes lived too long from a financial perspective, exhausting their savings, if any, or becoming a burden on others in the extended family or society. In the ancient world there was not always room for the sick, suffering, disabled, aged, or the poor—these were often not part of the cultural consciousness of societies. Early methods of protection, aside from

3290-518: The exams. Also, many companies that employ actuaries have automatic pay raises or promotions when exams are passed. As a result, actuarial students have strong incentives for devoting adequate study time during off-work hours. A common rule of thumb for exam students is that, for the Society of Actuaries examinations, roughly 400 hours of study time are necessary for each four-hour exam. Thus, thousands of hours of study time should be anticipated over several years, assuming no failures. Historically,

3360-512: The expected cost of those risks actualized. The steps needed to become an actuary , including education and licensing, are specific to a given country, with various additional requirements applied by regional administrative units; however, almost all processes impart universal principles of risk assessment, statistical analysis, and risk mitigation, involving rigorously structured training and examination schedules, taking many years to complete. The profession has consistently been ranked as one of

3430-414: The formulation of corporate risk policy, and the setting up and running of corporate risk departments. Actuaries are also involved in other areas in the economic and financial field, such as analyzing securities offerings or market research . On both the life and casualty sides, the classical function of actuaries is to calculate premiums and reserves for insurance policies covering various risks. On

3500-545: The fund. Other early examples of mutual surety and assurance pacts can be traced back to various forms of fellowship within the Saxon clans of England and their Germanic forebears, and to Celtic society. Non-life insurance started as a hedge against loss of cargo during sea travel. Anecdotal reports of such guarantees occur in the writings of Demosthenes , who lived in the 4th century BCE. The earliest records of an official non-life insurance policy come from Sicily , where there

3570-410: The gross-out humor is gratuitous." Metacritic assigned the film a weighted average score of 44 out of 100 based on 35 critics, indicating "mixed or average reviews". Audiences polled by CinemaScore gave the film an average grade of "B" on an A+ to F scale. All tracks are written by Theodore Shapiro Actuary An actuary is a professional with advanced mathematical skills who deals with

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3640-578: The group that eventually became the Society for Equitable Assurances. It was he who specified that the chief official should be called an actuary . Previously, the use of the term had been restricted to an official who recorded the decisions, or acts , of ecclesiastical courts , in ancient times originally the secretary of the Roman senate , responsible for compiling the Acta Senatus . Other companies that did not originally use such mathematical and scientific methods most often failed or were forced to adopt

3710-414: The importance of different adverse effects in a particular situation. The Society for Risk Analysis concludes that "experience has shown that to agree on one unified set of definitions is not realistic". The solution is "to allow for different perspectives on fundamental concepts and make a distinction between overall qualitative definitions and their associated measurements." The understanding of risk,

3780-747: The insurance and reinsurance industries, either as staff employees or as consultants; to other businesses, including sponsors of pension plans; and to government agencies such as the Government Actuary's Department in the United Kingdom or the Social Security Administration in the United States of America. Actuaries assemble and analyze data to estimate the probability and likely cost of the occurrence of an event such as death, sickness, injury, disability, or loss of property. Actuaries also address financial questions, including those involving

3850-1732: The level of pension contributions required to produce a certain retirement income and the way in which a company should invest resources to maximize its return on investments in light of potential risk. Using their broad knowledge, actuaries help design and price insurance policies, pension plans, and other financial strategies in a manner that will help ensure that the plans are maintained on a sound financial basis. Most traditional actuarial disciplines fall into two main categories: life and non-life. Life actuaries, which includes health and pension actuaries, primarily deal with mortality risk, morbidity risk, and investment risk. Products prominent in their work include life insurance , annuities , pensions, short and long term disability insurance , health insurance, health savings accounts , and long-term care insurance. In addition to these risks, social insurance programs are influenced by public opinion, politics, budget constraints, changing demographics , and other factors such as medical technology , inflation , and cost of living considerations. Non-life actuaries, also known as "property and casualty" (mainly US) or "general insurance" (mainly UK) actuaries, deal with both physical and legal risks that affect people or their property. Products prominent in their work include auto insurance , homeowners insurance , commercial property insurance, workers' compensation , malpractice insurance, product liability insurance , marine insurance , terrorism insurance , and other types of liability insurance . Actuaries are also called upon for their expertise in enterprise risk management . This can involve dynamic financial analysis , stress testing ,

3920-444: The local environment. Finance is concerned with money management and acquiring funds. Financial risk arises from uncertainty about financial returns. It includes market risk , credit risk , liquidity risk and operational risk . In finance, risk is the possibility that the actual return on an investment will be different from its expected return. This includes not only " downside risk " (returns below expectations, including

3990-413: The measurement and management of risk and uncertainty. These risks can affect both sides of the balance sheet and require asset management , liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. The name of the corresponding academic discipline is actuarial science . While

4060-469: The methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. Economics is concerned with the production, distribution and consumption of goods and services. Economic risk arises from uncertainty about economic outcomes. For example, economic risk may be the chance that macroeconomic conditions like exchange rates, government regulation, or political stability will affect an investment or

4130-420: The methods pioneered by Equitable. In the 18th and 19th centuries, computational complexity was limited to manual calculations. The calculations required to compute fair insurance premiums can be burdensome. The actuaries of that time developed methods to construct easily used tables, using arithmetical short-cuts called commutation functions , to facilitate timely, accurate, manual calculations of premiums. In

4200-529: The mid-19th century, professional bodies were founded to support and further both actuaries and actuarial science, and to protect the public interest by ensuring competency and ethical standards. Since calculations were cumbersome, actuarial shortcuts were commonplace. Non-life actuaries followed in the footsteps of their life compatriots in the early 20th century. In the United States, the 1920 revision to workers' compensation rates took over two months of around-the-clock work by day and night teams of actuaries. In

4270-420: The most desirable. In various studies in the United States, being an actuary was ranked first or second multiple times since 2010, and in the top 20 for most of the past decade. Actuaries use skills primarily in mathematics, particularly calculus -based probability and mathematical statistics , but also economics , computer science , finance, and business. For this reason, actuaries are essential to

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4340-402: The most desirable. Actuaries work comparatively reasonable hours, in comfortable conditions, without the need for physical exertion that may lead to injury, are well paid, and the profession consistently has a good hiring outlook. Not only has the overall profession ranked highly, but it also is considered one of the best professions for women, and one of the best recession-proof professions. In

4410-525: The normal support of the extended family, involved charity; religious organizations or neighbors would collect for the destitute and needy. By the middle of the 3rd century, charitable operations in Rome supported 1,500 suffering people. Charitable protection remains an active form of support in the modern era, but receiving charity is uncertain and often accompanied by social stigma . Elementary mutual aid agreements and pensions did arise in antiquity. Early in

4480-425: The possibility of losing some or all of the original investment) but also "upside risk" (returns that exceed expectations). In Knight's definition, risk is often defined as quantifiable uncertainty about gains and losses. This contrasts with Knightian uncertainty , which cannot be quantified. Financial risk modeling determines the aggregate risk in a financial portfolio. Modern portfolio theory measures risk using

4550-440: The potential that an audit report may fail to detect material misstatement either due to error or fraud. Health risks arise from disease and other biological hazards . Epidemiology is the study and analysis of the distribution, patterns and determinants of health and disease. It is a cornerstone of public health , and shapes policy decisions by identifying risk factors for disease and targets for preventive healthcare . In

4620-537: The quality of the candidates sitting the examination and in particular how well prepared they are. Fitness to pass is the criterion, not whether you can achieve a mark in the top 40% of candidates sitting." In 2000, the Casualty Actuarial Society (CAS) decided to start releasing pass marks for the exams it offers. The CAS's policy is also not to grade to specific pass ratios; the CAS board affirmed in 2001 that "the CAS shall use no predetermined pass ratio as

4690-422: The risk of losing goods entrusted to them, their own possessions, or even their lives. Intermediaries developed to warehouse and trade goods, which exposed them to financial risk . The primary providers in extended families or households ran the risk of premature death, disability or infirmity, which could leave their dependents to starve. Credit procurement was difficult if the creditor worried about repayment in

4760-428: The salsa club. When Lisa returns hoping to reconcile with Reuben, Polly is spooked by Reuben referring to her as his girlfriend. Reuben is torn between the free-spirited but noncommittal Polly and the safe and familiar Lisa. He enters information about them both into a computer insurance program which measures risk but tilts the program toward Polly. The computer tells him that, despite his numerous blunders with her, she

4830-422: The term to negative impacts ("downside risks"), while others also include positive impacts ("upside risks"). Some resolve these differences by arguing that the definition of risk is subjective. For example: No definition is advanced as the correct one, because there is no one definition that is suitable for all problems. Rather, the choice of definition is a political one, expressing someone's views regarding

4900-423: The uncontrolled release of radiation or a toxic chemical may have immediate short-term safety consequences, more protracted health impacts, and much longer-term environmental impacts . Events such as Chernobyl , for example, caused immediate deaths, and in the longer term, deaths from cancers, and left a lasting environmental impact leading to birth defects , impacts on wildlife, etc. Information technology (IT)

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